CenterPoint Energy Inc. (CNP) Shares Gap Up to $23.30
Shares of CenterPoint Energy Inc. (NYSE:CNP) gapped up before the market opened on Tuesday . The stock had previously closed at $23.21, but opened at $23.30. CenterPoint Energy shares last traded at $23.47, with a volume of 1,161,169 shares traded.
A number of analysts have recently weighed in on the stock. SunTrust Banks Inc. reaffirmed a “hold” rating and set a $24.00 price target on shares of CenterPoint Energy in a report on Tuesday, August 2nd. RBC Capital Markets set a $26.00 price target on shares of CenterPoint Energy and gave the stock a “buy” rating in a report on Monday, August 8th. Credit Suisse Group AG set a $24.00 price target on shares of CenterPoint Energy and gave the stock a “hold” rating in a report on Monday, August 8th. TheStreet downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Tudor Pickering downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. CenterPoint Energy presently has a consensus rating of “Hold” and a consensus target price of $22.57.
The firm’s market capitalization is $10.11 billion. The stock’s 50-day moving average is $22.81 and its 200-day moving average is $22.36.
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CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by $0.03. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.62 billion. CenterPoint Energy had a negative net margin of 10.72% and a positive return on equity of 13.48%. CenterPoint Energy’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. On average, analysts forecast that CenterPoint Energy Inc. will post $1.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 16th were paid a dividend of $0.2575 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.03 annualized dividend and a yield of 4.39%. CenterPoint Energy’s dividend payout ratio is currently -59.20%.
A number of institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC boosted its position in shares of CenterPoint Energy by 228.5% in the second quarter. Advisory Services Network LLC now owns 5,145 shares of the company’s stock valued at $123,000 after buying an additional 3,579 shares in the last quarter. Washington Trust Bank boosted its position in CenterPoint Energy by 133.7% in the second quarter. Washington Trust Bank now owns 5,384 shares of the company’s stock worth $129,000 after buying an additional 3,080 shares in the last quarter. Assetmark Inc. bought a new position in CenterPoint Energy during the second quarter worth approximately $133,000. Pacer Advisors Inc. boosted its position in CenterPoint Energy by 10.4% in the second quarter. Pacer Advisors Inc. now owns 7,293 shares of the company’s stock worth $175,000 after buying an additional 685 shares in the last quarter. Finally, IFC Holdings Incorporated FL bought a new position in CenterPoint Energy during the second quarter worth approximately $209,000. 77.34% of the stock is owned by institutional investors.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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